We don’t need a “balanced” fiscal approach

Playing on the simple-minded notion that whatever is “balanced” must be best, Obama and his cheerleaders for omnipotent government insist on “solving” our fiscal problem with a combination of tax increases (euphemistically called simply “revenue” as if the government were a business that gets money through voluntary trade) and spending reductions. In this sharp piece, Professor William Shughart contends that we need to focus entirely on spending reductions. Our problem, he argues, is that the federal government is too big, does too much, and inhibits the efficient use of our limited resources.

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